Wealth management

Bear, Stearns & Co. Inc. announced Tuesday that Lee Stettner will join the firm as a senior managing director and global head of equity capital markets.

U.S. Trust, Bank of America Private Wealth Management is set to kick off a $25 million advertising campaign.

Barbara Rupf Bee has been promoted from chief executive of HSBC Alternative Investments to the newly created position of global head of institutional sales for HSBC Investments.

Spectrem Group, a consulting firm specializing in the affluent and retirement markets, said its Spectrem Millionaire Investor Index dropped 4 points in September and has lost 17 points since May.

Pershing LLC has increased its assets under custody by more than 50% since its 2003 acquisition by Bank of New York Co. Inc., to nearly $1 trillion, but it still has plenty of room to grow, according to its top executives.

The use of structured hybrid products has picked up tremendous momentum recently as financial institutions seek opportunities for increased investment portfolio yields.

Registered investment advisers' assets under management increased by a median of 20% in 2006 and their revenue rose 16%, according to a study by Schwab Institutional.

Huntington Bancshares Inc. of Columbus, Ohio, announced it has bought Archer-Meek-Weiler Agency Inc. of Columbus.

Bank Investment Consultant

eMoney Advisor, a Conshohocken, Pa., financial planning unit of Commerce Bancorp, has been selected by Northern Trust Corp.'s personal financial services division to supply financial planning solutions to the Chicago company's advisers.

Bank of New York Mellon Corp. plans to expand its corporate trust business by adding offices and personnel at home and abroad.

Pershing LLC, a Jersey City unit of Bank of New York Mellon Corp., has announced that Leonard Reinhart, the founder and chief executive officer of a Pershing managed account unit, will retire Dec. 31.

Bank of America Corp. has introduced a unified managed account program designed for its wealthy and ultra-wealthy clients.

Brown & Brown Inc., a Daytona Beach, Fla., insurance agency and brokerage firm, said Monday that it has agreed to buy the property and casualty insurance brokerage business of JPMorgan Chase & Co.'s JP Morgan Insurance Agency Inc. unit.